Perth Bullion Liquidation

Discussion in 'General Precious Metals Discussion' started by nighttrader, Jul 9, 2019.

  1. prospect

    prospect Active Member

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    yea whatever mr expert
    over and out.
     
  2. Antalon

    Antalon Active Member Silver Stacker

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    So sorry to hear for PB. But also those who have purchases pending. Hope those get sorted.

    Hipothetically: How would something like this work for a business who had commission products with them?
     
  3. harry_mr

    harry_mr Active Member

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  4. alor

    alor Well-Known Member Silver Stacker

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    we are from different jurisdictions
     
  5. Gazzasore

    Gazzasore New Member

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    Good Stuff I had a look
    They look good
     
  6. Captain Kookaburra

    Captain Kookaburra Well-Known Member Silver Stacker

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    This turned out to be the biggest crutch the ATO was leaning on. But, how do you define "close"? There is no definition. It doesn't work as either a percentage or fixed figure. $12 above spot might be close for gold, but not close for silver.

    They provide no assistance with establishing what this means, or even what a "wafer" actually is. Ask them, they don't know.

    They just throw up a multi-million dollar assessment, double it with penalties and hope it sticks. It's instant bankruptcy for those businesses because we all know the margins are always significantly less than the GST.

    In the case of PB all the relevant and tangible/definable requirements were met, in the vast majority (99%+) of transactions.
     
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  7. Captain Kookaburra

    Captain Kookaburra Well-Known Member Silver Stacker

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    Oh Yeah, and for Melbourne, Gold Stackers and Bullion Now are the best places to go.
     
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  8. Lunardragon

    Lunardragon Well-Known Member Silver Stacker

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  9. Lunardragon

    Lunardragon Well-Known Member Silver Stacker

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    Ag spot kills the business and the business cant compete on secondary market sales.
    Look on the recent sale, 1oz lunar for $28ea..
    In addition, they carry a lot of numis sheeets
     
  10. Gazzasore

    Gazzasore New Member

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    With Perth Billion
    I could buy a couple of oz a week
    And ship when I had a few
    Do any other Bullion outfits slow this?
     
  11. StewyD32

    StewyD32 Well-Known Member Silver Stacker

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    Yeah I would say a good few do, but have not used them as Perth bullion was my 'go to' aswell.
    'Bullion now' based in Melbourne and also pretty active on here definitely do the same setup and are easy to deal with at good prices as far as I know.
     
    Last edited: Jul 18, 2019
  12. alor

    alor Well-Known Member Silver Stacker

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    :(
    it is a very low margin and high outlay business, per coin profit can be just $0.50
    compared with selling a can of beer
    0.50/$25+

    most people no longer buy the box, not even rolls
    when silver price is flat for few years

    flat T:) last longer so can accumulate some more
     
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  13. Silverman99

    Silverman99 Well-Known Member Silver Stacker

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    If you happen to be in the Queensland area I’ve found Ainslie bullion in Brisbane are quite competitive and essy to transact with
     
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  14. cracka stacka

    cracka stacka Member

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    Don't hold it, don't own it!!!!!!!!!!! Never forget that!!
     
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  15. Bullion_ron

    Bullion_ron Well-Known Member Silver Stacker

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    https://www.ato.gov.au/law/view/document?DocID=GST/GSTR200310/NAT/ATO/00001

    This is the ATO's definition of bullion and what is or isnt GST applicable.

    The reason 'non bullion' coins get seld here so much is that i we dont charge each other GST. A sovereign (bullion grade, nothing fancy) will always be ~10% cheaper hear than from say Jaggards or KJC. I believe as they are busineses and have to lodge a BAS they have to collect GST on what needs collecting
     
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  16. Bullion_ron

    Bullion_ron Well-Known Member Silver Stacker

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    Yeah, theyre not a bad mob. Hopefully they stock the 1/4 oz QB rounds haha
     
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  17. cracka stacka

    cracka stacka Member

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    Yea if they ever get their online store website up...
     
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  18. Gazzasore

    Gazzasore New Member

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    Lots of the Bullion selless only seem to sell in 20x or 100x or 200x
    No options of buying less
     
  19. mongrelmaple

    mongrelmaple Well-Known Member Silver Stacker

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    Here’s an update from the liquidators I just recieved...

    41FA5C42-D6BA-445E-9C64-B06E2807800D.png BAA96D88-A9D4-44A1-A2A5-F00F8C3ECEC1.png
     
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  20. cracka stacka

    cracka stacka Member

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    OMG, no records? smh. They are going to make it as hard as possible. Good luck if had holdings there. Feels bad.
     

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